Amazon partnering with UK insurer for blockchain-based pension deals

Published 3m ago via cryptoexpo.asia

FINEXPO via cryptoexpo.asia

Amazon, the e-commerce company that needs no introduction, is partnering with Legal & General, an insurance agency based in the United Kingdom, to build a blockchain network for ‚Äúcorporate pension deals,‚ÄĚ reports Reuters. Legal & General are taking advantage of the blockchain system put in place by Amazon Web Services.

Thomas Olunloyo, CEO of Legal & General Reinsurance spoke on the matter:
According to the publication, Legal & General is using the blockchain platform for services outside of its main areas of work, the United States and the United Kingdom. The General Manager at Amazon Managed Blockchain at Amazon Web Services Rahul Pathak commented on the partnership as well, saying that it offering the blockchain technology means Legal & General can simply ‚Äúfocus on building new business ‚Ä¶ instead of dealing with the challenges of keeping a blockchain network up and running.‚ÄĚ

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